Taiwan BoP suffers from capital flight

After eight quarters in surplus, Taiwan's balance of international payments fell into deficit territory in the third quarter of this year as the result of a sharp fall in the capital account, the Central Bank of China revealed yesterday.

Since the third quarter of 1998, the island's balance of international payments has maintained a surplus for eight consecutive quarters. However, the recent instability of local stock and currency markets, has prompted a massive outflow of capital, which in

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